That's according to MCV, which says it has been informed by sources that takeover papers are "close to being signed".

Such an acquisition would have major implications not only for Sony's console arm but its wider business, making it possible for the company to stream its games not only to PlayStation devices but to other consumer technology products like its Bravia TVs and Vaio PCs. Players could benefit from the ability to access gaming content from multiple devices while on the move.

Back in January, Sony CEO Kaz Hirai suggested that disc-based consoles will remain the norm in the coming years, noting that "there's always going to be requirement for a business of our size and scope to have a physical medium". There's no reason why physical games and streamed ones can't live together on PS4 though.